The on-chain analytics firm Glassnode has revealed where the next Bitcoin support level could be based on different pricing models.
Bitcoin Is Currently Retesting 1-Year MVRV Z-Score Mean
In a new post on X, the on-chain analytics firm Glassnode has discussed about how BTC has been looking on a couple of pricing models recently. The first of these models is based on the Market Value to Realized Value (MVRV) Z-Score, which compares the market cap of Bitcoin with its realized cap and applies a standard deviation test to pull out the extremes.
The “realized cap” here refers to an on-chain indicator that basically keeps track of the total amount of capital that the holders as a whole have invested into BTC.
As the market cap represents the value that the investors are holding in the present, its comparison against this initial investment in the MVRV Z-Score provides information about the profitability of the userbase.
Now, here is the model shared by the analytics firm, th
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